Numerous insurance products are available for insuring life and health, and for insuring many different types of property including vehicles, homes, and business. Some of these insurables may require fulltime insurance coverage on a year-round basis. However, for other types of assets, fulltime coverage may not be necessary.
For example, for personal automobiles, insurance coverage is often obtained for a fixed term, and renewed periodically thereafter. This is generally a reasonable arrangement for a primary transportation vehicle that is operated regularly. However, certain types of vehicles may be operated only on a seasonal basis, or only occasionally or intermittently. For vehicles that are operated seasonally, it may still be possible to obtain insurance coverage in a conventional manner, based on predetermined start and stop dates. However, this approach may limit flexibility.
What is needed is a more flexible system and method for providing insurance coverage.